Argentina-based cryptocurrency exchange Lemon has made headlines by launching the country”s inaugural Bitcoin-backed Visa credit card. This development signifies a departure from conventional crypto debit approaches, transitioning toward a model based on collateralized credit. The card is now accessible to Lemon”s extensive user base, which exceeds 5.5 million individuals.
Unlike traditional debit cards that liquidate cryptocurrency at the time of purchase, the new card from Lemon enables users to spend Argentine pesos while retaining their Bitcoin holdings. This innovative credit model operates on a Collateralized Debt Position (CDP) structure, allowing users to lock 0.01 BTC as collateral—equating to approximately $900 to $960 based on current market values—and consequently obtain a credit limit of up to 1 million Argentine pesos.
The design of the card completely eliminates the risk of forced liquidation. Users can access short-term liquidity in pesos for their daily spending needs without needing to sell their Bitcoin, thereby maintaining their exposure to potential price fluctuations. Approval for the card is determined by the value of the collateral and the user”s account history, without the necessity of credit checks or adherence to traditional banking prerequisites.
For the initial three months, Lemon waives maintenance fees as part of a collaboration with Rootstock. Following this period, users will incur a monthly fee of approximately 7,500 pesos unless they make crypto purchases totaling at least $150 each month.
Argentina serves as a fitting launch market for this product, given the accelerating pace of cryptocurrency adoption in the country. As of January 2026, nearly 20% of the Argentine population—approximately 8.6 million people—actively engages with cryptocurrencies, representing the highest penetration rate in Latin America.
On Lemon”s platform, Bitcoin has emerged as the most widely held asset, surpassing both stablecoin dollar proxies and the Argentine peso itself. The introduction of this credit card effectively formalizes Bitcoin”s function as a store of value while simultaneously unlocking its utility for everyday expenditures.
Looking ahead, Lemon intends to enhance the card”s functionality in subsequent phases. Future updates may include customizable collateral ratios and the capability to settle dollar-denominated purchases directly using stablecoins such as USDC and USDT. This launch builds upon Lemon”s previous Visa offering from 2021, which provided BTC cashback on purchases, but now emphasizes credit, allowing users to leverage their Bitcoin holdings as a financial buffer without relinquishing them.
